Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

U.S. stocks gain on durable goods data; Dow rises 0.17%

Published 08/26/2014, 04:42 PM
Updated 08/26/2014, 04:44 PM
Stocks rise on U.S. durable goods report

Stocks rise on U.S. durable goods report

Investing.com - U.S. stocks rose on Tuesday after data revealed Americans bought more long-lasting manufactured goods last month than markets were expecting, while upbeat consumer confidence data boosted equities as well.

At the close of U.S. trading, the Dow 30 rose 0.17%, the S&P 500 index rose 0.11%, while the NASDAQ Composite index rose 0.29%.

The Volatility S&P 500 index, which measures the outlook for market volatility, was down 0.60% at 11.63.

The U.S. Commerce Department reported earlier that total durable goods orders, which include transportation items, surged by 22.6% last month, blowing past expectations for an increase of 7.5%.

Orders for durable goods in June were revised up to a 2.7% gain from a previously reported increase of 1.7%.

Core durable goods orders, excluding volatile transportation items, contracted 0.8% in July, confounding forecasts for a 0.5% gain. Core durable goods orders rose by 3% in June, though stocks applauded the overall report anyway.

Separately, the Conference Board reported that its widely-watched consumer confidence index rose to 92.4 for August, the highest since October 2007, from 90.3 in July, whose figure was revised down from a previously reported 90.9.

Analysts expected the index to decline to 89.0 in August.

Stocks rose on the data, though geopolitical concerns dampened the day's buying spreee.

On Monday, Ukraine said an armored column including 10 tanks entered from Russia as the government in Moscow unveiled plans to send a second convoy with humanitarian aid.

Elsewhere, investors also tracked a lackluster report on U.S. home prices.

The S&P/Case Shiller composite index of 20 metropolitan areas rose 8.1% year over year, shy of expectations for 8.4 percent.

Leading Dow Jones Industrial Average performers included Pfizer Inc (NYSE:PFE), up 1.05%, UnitedHealth Group Incorporated (NYSE:UNH), also up 1.05%, and International Business Machines (NYSE:IBM), up 0.96%.

The Dow Jones Industrial Average's worst performers included General Electric Company (NYSE:GE), down 0.71%, Nike Inc (NYSE:NKE), down 0.68%, and American Express Company (NYSE:AXP), down 0.51%.

European indices, meanwhile, ended the day higher.

After the close of European trade, the DJ Euro Stoxx 50 rose 1.04%, France's CAC 40 rose 1.18%, while Germany's DAX rose 0.82%. Meanwhile, in the U.K. the FTSE 100 rose 0.70%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.